Wild and wacky weather events like atmospheric rivers, derechos and bomb cyclones may seem new because of recent media coverage, but they’ve been known and named phenomena for quite some time in the history of meteorology and atmospheric science, speakers said Tuesday at the CatIQ Connect conference. What’s new is that they appear to be getting worse and more frequent as the climate changes. That means increasingly higher insured damage payouts for Canada’s P&C insurance industry.
Water Crisis Poses Greatest Risk For Africa’s Food, CEO of Fertilizer Company Says
Those water issues -- driven by climate change -- will see African countries grappling with food crises for decades to come, Seelan Gobalsamy, chief executive officer of South Africa’s Omnia Holdings Ltd., said in an interview Monday. Inadequate infrastructure to move key farming products will cause further problems, he said. “When the sun shines, it’s harsher and when there’s rain, it comes down in buckets,” the CEO said in Bloomberg’s office in Johannesburg, hours before one of the heaviest summer hailstorms the city has experienced in years. “If you ask me what our biggest risk is going forward, is it Russia’s war on Ukraine, or supply chain? It’s actually climate change.”